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Retirement Fund (Amendment) Act 2000

TONGA

RETIREMENT FUND (AMENDMENT) ACT 2000

Act 26 of 2000

AN ACT TO AMEND THE RETIREMENT FUND ACT 1998

I assent,

TAUFA'AHAU TUPOU IV,
7th November, 2000

[7th November, 2000]

BE IT ENACTED by the King and Legislative Assembly of Tonga in the Legislature of the Kingdom as follows:

1. (1) This Act may be cited as the Retirement Fund (Amendment) Act 2000.

(2) The Retirement Fund Act 1998 is in this Act referred to as the Principal Act.

2. The Principal Act is amended by deleting section 5 and substituted therefor the following:

"5 Lump sum or instalments

The fund is an accumulated fund and benefits may be paid by way of –

(a) lump sum; or

(b) instalments computed in accordance with the regulations, paid over a number of years nominated by the member".

Passed in the Legislative Assembly this 21st day of September, 2000.

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